Solar Thin Films, Inc., a developer, manufacturer and marketer of manufacturing equipment for the production of "thin-film" amorphous silicon (a-Si) photovoltaic modules, has received $3.6 million from Grupo Unisolar, S.A. ("Grupo Unisolar") against the $12.3 million contract to build a 5MW turn-key amorphous silicon (a-Si) module thin-film photovoltaic manufacturing plant in Spain. With this 30% deposit, Solar Thin Films has moved beyond the planning stage, and has begun to fulfill the contract.
Delivery and installation is expected to commence in late 2008 and to be completed during 2009. Solar Thin Films will receive an additional 50% of the $12.3 million dollar purchase price upon delivery of the equipment throughout 2009, and the remaining 20% upon completion and acceptance. Under the terms of the turnkey sale, Solar Thin Films will also provide certain installation and testing services to Grupo Unisolar.
“With this payment, we are ready to move beyond the initial phases of the project and schedule the first deliveries for the fourth quarter. We expect to deliver and install throughout 2009 and to have acceptance late next year,” said Peter Lewis, chief executive officer of Solar Thin Films. “This plant is another opportunity for Solar Thin Films to demonstrate its capabilities and process expertise in producing a complete line of cost-efficient manufacturing equipment for the production of thin-film amorphous silicon modules. The environmental and cost advantages of thin-film a-Si over crystalline silicon and other thin-film technologies is creating many opportunities for us to expand our share of the photovoltaics market and establish Solar Thin Films as a clear leader in supplying cost-effective, thin-film photovoltaic module manufacturing equipment. As thin-film technology continues to advance we anticipate it will play an increasing role relative to crystalline silicon and garner a growing share of the solar power market,” concluded Lewis.